ISTANBUL - Deutsche Bank has paid 150 million dollars (121.95 million euros) for a 19.99-percent stake in Dogan TV, a Turkish broadcasting company which is part of the country's largest media empire.
Dogan TV is an umbrella group for seven television stations, including Kanal D and the news channel CNN Turk, as well as three radio stations and a production company, and has 29 percent of the local market, the parent company, Dogan Yayin Holding (DHY), said in a statement late on Wednesday.
Under the deal, "one member of Dogan TV's seven-member executive board will be appointed by Deutsche Bank", the statement said.
DHY is part of Dogan Holding, one of Turkey's leading business groups which also has interests in banking, energy, industry and tourism.
06/02/2005 07:14 GMT